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In Figure E.4.1, we see the long-run average cost for the production of a good, LRAC.
a) In the short run, capital is a fixed cost. Draw, for a few different values of K, what the short-run average cost, SRAC, looks like in relation to the long-run average cost. b) Sometimes, one talks of (dis-) economies of scale. What in the graph indicates whether we have economies or diseconomies of scale?
Suppose you purchase a 3-year, 5-percent coupon bond at par and hold it for two years. During that time, the interest rate falls to 4%. Calculate your annual holding period return. Assume that the coupon bond has a face value of $100.
What is Wonderias opportunity cost of going from point C to point D? Show your answer with a number (use the table above), then wirte a brief sentence explaining why.)
Assume that Qd = 80-2P and Qs = 2P-20. If the government imposes a price ceiling at $15 in this market, what is the loss in producer surplus?
Are there other Nash equilibria of this game?
Assume that a hypothetical economy with an MPC of .7 is experiencing severe recession. By how much would government spending have to increase to shift the aggregate demand curve rightward by $30 billion?
economists use elasticity to measure consumer responsiveness to changes in the various determinants associated with
Suppose you suddenly realize that your demand estimates might have some uncertainty in them. How might you change value of surplus you give to the customers because of this?
Suppose that there is a cultural shift in America emphasizing the importance of saving money as opposed to current consumption. a.) Illustrate the impact on the interest rate in the market for loanable funds. What direction does the interest ra..
1. discuss several economic events that would increase a countrys willingness to trade.2. in the offer analysis why
The CEO of bank of America Brian Moynihan recently stated that US taxpayer money should not be used to bail out major banks.
If you want to increase your sales of glazed doughnuts by 30%, in what direction and by how much do you need to change the price? If you make the percentage price change that you calculated in part a) will total revenue increase or decrease? How ..
Assume all markets are competitive, the product price is p = $2 per unit, the wage rate is w = $16 per hour and the firm's production function is q=E(36?E), where E is the level of employment and the firm's fixed costs are zero.
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